Why Tesla Stock Just Crashed
Tesla (NASDAQ: TSLA) stock fell 11% through 11:45 a.m. ET Wednesday after the company badly missed analyst forecasts for earnings Tuesday night.
Heading into the second-quarter report, Wall Street forecast the electric car leader would earn $0.62 per share on sales of $24.8 billion. Tesla exceeded the latter expectation, reporting Q2 sales of $25.5 billion. But this sales growth came at a cost to profit: Earnings were only $0.52 per share.
Not all Tesla's news was bad. Notably, the company's energy generation (i.e., solar panels) and storage (i.e., batteries) division -- which believe it or not is now more profitable (with an 18.9% gross profit margin) than the automotive business, doubled in size to $1.5 billion in sales. And free cash flow for the quarter increased nicely to $1.3 billion.
Source Fool.com
Tesla Inc Stock
Our community is currently high on Tesla Inc with 76 Buy predictions and 27 Sell predictions.
With a target price of 247 € there is a positive potential of 27.5% for Tesla Inc compared to the current price of 193.72 €.
